This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A property has an assessed value of 80 of its fair market value. If you were writing an Excel ... (Read 124 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jun 24, 2018
A property has an assessed value of 80 of its fair market value. If you were writing an Excel formula to calculate the assessed value of the property, what value would be used to multiply by the fair market value?
 A) 8
  B) 80
  C) 0.8
  D) 0.08

Question 2

Janet and Pat McGuire are married and file a 1040 jointly. Janet earns 28,000 and Pat earns 18,500 for the year. They have two children. They have earned interest income of 240. Janet contributed 2,000 to her IRA and Pat contributed 1,500 to his. Their itemized deductions are 3,750 in medical and dental expenses, 4,500 in real estate taxes, 7,480 in home mortgage interest, 1,000 in student loan interest, 1,100 in personal property taxes, and 675 in charitable contributions. Together, they had 3,200 withheld for taxes. Use a tax table. Which is true about how much Janet and Pat either owe in taxes or have due as a refund?
 A) owe 1,802
  B) refund of 1,802
  C) owe 1,521
  D) refund of 1,521


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kristenb95

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 24, 2018
Answer to Question 1

C

Answer to Question 2

B


vinney12

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jun 24, 2018
Correct answers!


kristenb95

  • Sr. Member
  • ****
  • Posts: 318
Reply #3 on: Jun 24, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Many types of edible fungi are grown for the market. Many types of edible fungi are grown for the market.
The respiratory system is assessed for ventilatory changes. The respiratory system is assessed for ventilatory changes.
Decremental property of graded potentials. Decremental property of graded potentials.
Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ... Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ...
Examples of Cuneiform Writing Examples of Cuneiform Writing
Alphabetical writing kindergarten Alphabetical writing kindergarten
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library